CEN Claren Energy Corp

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH
UNITED STATES NEWSWIRE SERVICES


Coastal Energy Company (the "Company") (TSX VENTURE:CEN)(AIM:CEO), an
independent exploration and production company with assets in South-East Asia,
is pleased to announce, it has today completed its public offering of 16,445,000
common shares (the "Offering Shares") of the Company at a price of C$3.50 per
common share, raising gross proceeds of C$57,557,500 (the "Offering"). Macquarie
Capital Markets Canada Ltd. ("Macquarie") acted as lead underwriter of a
syndicate of underwriters (the "Underwriters") which included Macquarie and
Westwind Partners Inc. in respect of the offering. After closing of the
Offering, the Company has 93,428,222 common shares issued and outstanding. The
closing of the Offering included the closing of the over- allotment option of
2,145,000 common shares (the "Over-Allotment Shares") that was exercised by the
Underwriters.


The Offering Shares will commence trading on TSX-V immediately, and admission of
the Offering Shares to trading on AIM has been obtained, with the exception of
the Over-Allotment Shares, which will commence trading on the AIM at 8:00 am UK
time on 9 January 2008.


The Company expects to use the majority of the funds to accelerate development,
appraisal and exploration work in the G5/43 block in the Gulf of Thailand.
Coastal owns 100% of the block and has commenced development work on two
previously discovered oil fields.


Information concerning the Offering and the use of proceeds is contained in the
Company's short form prospectus dated 28 December 2007, which is available under
the Company's profile at www.sedar.com or on the Company's website at
www.CoastalEnergy.com.


These securities have not been registered under United States Securities Act of
1933 (the "US Securities Act") or the securities laws of any state and may not
be offered or sold in the United States or to US persons (as defined in
Regulation S under the US Securities Act) unless an exemption from registration
is available.

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